Hexagon Nutrition IPO opens June 5; check price band, lot size and key dates

Hexagon Nutrition IPO: The initial public offering of pure-play nutrition company Hexagon Nutrition will open for subscription on June 5. The issue will conclude on June 9. The price band has been set at ₹42 to ₹45 per share.

The ₹138.87 initial share sale is solely an offer for sale (OFS) of 30,859,704 shares. There is no fresh issue component.

Under the OFS, promoters Arun Kelkar, Subhash Kelkar, Aditya Kelkar and Nutan Kelkar will offload their stake.

As there is no fresh issuance of shares, the company will not get any proceeds from the issue. The money raised will go to selling promoters.

The firm said that it wants to achieve the benefits of listing the equity shares on the stock exchanges. "Our company expects that the proposed listing of its equity shares will enhance our visibility and brand image as well as provide liquidity and a public market for the Equity Shares in India," according to the red herring prospectus.

Hexagon Nutrition IPO: Lot size

A lot consists of 333 shares. The company has reserved 50% of the offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Hexagon Nutrition IPO: Allotment and listing date

Cumulative Capital Pvt Ltd and Catalyst Capital Partners Pvt Ltd are the issue's book-running lead managers, while KFin Technologies is the registrar.

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE.

Hexagon Nutrition is a differentiated and research-orientated pure-play nutrition company, offering products across a whole range starting with micronutrient premixes, right up to clinical and therapeutic products. It is also one of the largest domestic premix players, providing customised vitamin and mineral premixes to leading Indian and multinational FMCG companies.